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20130212
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. do you believe that the tax and deficit debate is harmful to the business environment now? >> the uncertainty is back. the amount of -- the uncertainty is bad. you go from the fiscal cliff to the deficit debate to sequestration. that is inherently disruptive to business investment. certainty is a good multiplier. we are these long cycle businesses that have global competition. i do not have the lecture he to say that i will quit investing for six months until this is resolved. i will keep going. the people who can hurt the worst by all of this are the small and medium businesses. the people that have no buffer. that get confused. these are the people that are the heart of the u.s. economy. they are the ones that are constantly being bombarded as we go from one to another. this can only be solved here. this is one of the few cases where the business roundtable of people speak with one voice. it would be great to get a resolution. >> there is a divide in the corporate side on the corporate tax front. large companies would benefit more from corporate tax reform, especially go
lost is there are different ways of reducing the deficit. the president talks about the debt reduction deals we have. if you look at the spending side it is all discretionary. all on the defense side. it is research and work development, all of these things that are r&d. they do not deal with what most economists would say is the real problem. has a debate somehow skewed in how we have failed to make these distinctions and where to make the cut? >> this notion of federal government driving innovation versus private and filling a shift there. >> there's always both. the government has been the catalyst of the private sector involved. if you go back 30 years, most would come from the department of defense. today there's a lot more in the private sector than ever before. it is quite strong. >> there is not one company, ge is not alone, that has not changed their health care a pension plan. they are difficult decisions that are hard to do. we do it in a constructive way with employees. the notion that we are in a world where we cannot do anything about some of these big entitlement costs,
this debt problem. [applause] if you look at what is happening here, it is true that the deficit are going to be below $1 trillion for the first time in several years. and it is true that the new revenues raised in spending that you did not do. it is true that the economy is beginning to grow again. but this is almost like the reverse of what we did in 1993. that is, i was prickly well aware if we raise taxes and cut spending, it could have a dragging effect in the economy. but not nearly as much as spending 40% of the budget paying interest on the debt. not nearly as much as having low growth. at nearly as much as having interest rates that were too high. so our gamble was that the explosive the fact of lowering interest rates, with a booming bond market and having more disposable income over a 5 =-10 year period would more than offset putting the hammer down by raising more money and cutting spending. it turned out to be a good gamble, but it made sense. it will make sense here again. but timing is everything. and so, i think he should have a budget that does not defy our arithmetic but
] one of our big problems right now -- i am not politically correct -- our deficit is a big problem. think about it. [applause] our national debt, $16.50 trillion -- you think that as a lot of money? count one number per second, which you cannot do, because when you get 2000, it will take longer -- tuna how long it will take you? to count to $16 a trillion? 5000 years. --e is a parable
Search Results 0 to 3 of about 4